ALISO VIEJO, Calif. & Good FALLS, Va.–(Business WIRE)–indie Semiconductor, an Autotech answers innovator, and Thunder Bridge Acquisition II, Ltd. (Nasdaq: THBR), a particular function acquisition organization, right now declared the completion of their formerly declared small business mixture. The merged corporation will retain the indie Semiconductor identify with its frequent inventory and warrants to commence trading on Nasdaq below the new ticker symbols “INDI” and “INDIW”, respectively, on June 11, 2021. The company mixture was accepted at a unique meeting of Thunder Bridge Acquisition II’s shareholders on June 9, 2021.
“The completion of our organization blend with Thunder Bridge Acquisition II marks an extraordinary milestone for indie,” stated Donald McClymont, indie’s Co-founder and CEO. “We started indie back again in 2007 on the straightforward concept of addressing the require for progressive semiconductor procedure answers. Now we are a swiftly developing public enterprise focused on the automotive sector with a international footprint and key associations with major Tier 1 consumers and OEMs. Our innovative technologies are supporting to re-architect tomorrow’s vehicle today, resolving the phase functionality increase in electronic functionality and complexity demanded by our clients to enhance basic safety, facilitate seamless facts connectivity, boost the user expertise and accelerate electrification. Wanting ahead, we are effectively positioned to capitalize on our current style earn pipeline, push scale and more consolidate within Autotech even though generating shareholder value.”
“We are delighted to near our merger with the indie group,” reported Gary Simanson, President and CEO of Thunder Bridge Acquisition II. “indie has proven an market-top franchise, and by advantage of our combination, will have the financial firepower to accelerate its strategic advancement initiatives and produce an Autotech pureplay powerhouse. Thunder Bridge’s concentrate on higher growth technologies corporations combined with our demonstrated capacity to deliver considerable fairness money from the SPAC sponsor, IPO traders and PIPE participants brought substantial benefit to this transaction. Whether or not in the rising market place for economical know-how, these types of as REPAY (Nasdaq: RPAY), or in the burgeoning market place for automotive technology this kind of as indie Semiconductor (Nasdaq: INDI), the Thunder Bridge SPAC group is committed to its traders and encouraging powerful working organizations realize their strategic goals, obtain public money marketplaces and create prolonged expression shareholder value.”
The organization combination is anticipated to result in gross proceeds of about $400 million to indie at closing, net of Thunder Bridge Acquisition II’s shareholder redemptions.
In addition to Donald McClymont, subsequent completion of the small business mixture, indie will retain its knowledgeable management group which include Ichiro Aoki, Co-founder and President Scott Kee, Co-founder and Chief Technological innovation Officer Thomas Schiller, Chief Fiscal Officer and EVP of Tactic Ellen Bancroft, Standard Counsel, and Steve Machuga, Main Working Officer.
indie is empowering the Autotech revolution with next generation automotive semiconductors and computer software platforms. We concentrate on edge sensors for State-of-the-art Driver Help Techniques including LiDAR, related car, person practical experience and electrification apps. These technologies depict the core underpinnings of equally electrical and autonomous autos, although the highly developed user interfaces completely transform the in-cabin working experience to mirror and seamlessly join to the mobile platforms we depend on every single day. We are an permitted vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs about the world. Headquartered in Aliso Viejo, CA, indie has style and design facilities and profits offices in Austin, TX Boston, MA Detroit, MI San Francisco and San Jose, CA Budapest, Hungary Dresden, Germany Edinburgh, Scotland and quite a few places during China.
Be sure to check out us at www.indiesemi.com to learn far more.
About Thunder Bridge Acquisition II, Ltd.
Thunder Bridge Acquisition II, Ltd. is a blank look at company formed for the intent of effecting a merger, share exchange, asset acquisition, inventory purchase, reorganization or similar enterprise combination with a person or more organizations. In August 2019, Thunder Bridge Acquisition II, Ltd. consummated a $345 million original public offering of 34.5 million models (reflecting the underwriters’ physical exercise of their over-allotment option in full), every single unit consisting of one Course A ordinary shares and one particular-half warrant, each and every complete warrant enabling the holder thereof to order a person Class A common share at a value of $11.50 for each share.
Ahead-On the lookout Statements
This communication is made up of “forward-wanting statements” within just the meaning of the Non-public Securities Litigation Reform Act of 1995. This kind of statements incorporate, but are not limited to, statements with regards to our long term running benefits and rewards of the small business mixture, and other statements recognized by words these kinds of as “will most likely outcome,” “are predicted to,” “will continue on,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or phrases of very similar which means. These ahead-hunting statements are based mostly on the present-day beliefs and anticipations of our management and are inherently matter to sizeable company, financial and aggressive uncertainties and contingencies, a lot of of which are complicated to predict and commonly over and above our command. Genuine outcomes and the timing of events may differ materially from the effects predicted in these forward-wanting statements. In addition to variables previously disclosed in Thunder Bridge Acquisition II’s studies filed with the SEC (including those people determined less than “Risk Factors” therein) and these recognized somewhere else in this interaction, the subsequent variables, between others, could bring about real outcomes and the timing of events to vary materially from the expected effects or other expectations expressed in the forward-on the lookout statements: our potential to acquire, marketplace and get acceptance for new products the availability of semiconductors and producing ability competitive items and pricing pressures, and economic instability in our concentrate on marketplaces indie’s foreseeable future cash demands and sources and employs of hard cash indie’s capacity to obtain funding for its operations and upcoming development adjustments in the industry for indie’s merchandise and products and services enlargement options and options the higher than-regular field progress of product and sector areas that indie has qualified indie’s strategy to maximize profits as a result of the introduction of new goods within just its existing item households as perfectly as in new item groups and family members the cyclical mother nature of the semiconductor sector indie’s means to properly introduce new technologies and products the demand for the merchandise into which indie’s merchandise are incorporated indie’s capacity to precisely estimate demand from customers and obtain supplies from 3rd-party producers indie’s potential to gain competitive bid choice processes the result of any lawful proceedings that might be instituted versus indie or Thunder Bridge II pursuing the Business enterprise Combination and transactions contemplated thus the incapacity to sustain the listing of the Course A common stock of the Business on Nasdaq following the Enterprise Mix the risk that the Organization Blend disrupts recent plans and operations the capability to acknowledge the predicted advantages of the Small business Combination, which may be influenced by, among the other things, levels of competition, and the ability of the Business to grow and manage advancement profitably charges relevant to the Organization Mix. indie cautions that the foregoing record of variables is not exceptional.
All info set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-searching statements as a result of developments transpiring soon after the date of this communication besides as expected by law.